LendingClub Co. (NYSE:LC) Shares Sold by Brighton Jones LLC

Brighton Jones LLC reduced its stake in shares of LendingClub Co. (NYSE:LC - Free Report) by 9.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,070 shares of the credit services provider's stock after selling 43,788 shares during the quarter. Brighton Jones LLC owned approximately 0.37% of LendingClub worth $6,655,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. AlphaMark Advisors LLC bought a new stake in shares of LendingClub in the third quarter valued at about $32,000. FMR LLC lifted its position in shares of LendingClub by 32.1% in the 3rd quarter. FMR LLC now owns 5,865 shares of the credit services provider's stock worth $67,000 after purchasing an additional 1,424 shares during the period. Blue Trust Inc. lifted its position in shares of LendingClub by 259.8% in the 3rd quarter. Blue Trust Inc. now owns 7,267 shares of the credit services provider's stock worth $83,000 after purchasing an additional 5,247 shares during the period. Alpha Cubed Investments LLC bought a new position in shares of LendingClub during the third quarter valued at approximately $170,000. Finally, Princeton Capital Management LLC purchased a new position in LendingClub during the third quarter valued at approximately $171,000. 74.08% of the stock is currently owned by institutional investors.

Insider Activity at LendingClub

In related news, Director John C. Morris sold 2,500 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $14.36, for a total value of $35,900.00. Following the sale, the director now owns 203,348 shares in the company, valued at approximately $2,920,077.28. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Sanborn sold 17,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $14.89, for a total value of $253,130.00. Following the transaction, the chief executive officer now owns 1,339,273 shares of the company's stock, valued at $19,941,774.97. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,500 shares of company stock valued at $1,158,610. 3.31% of the stock is currently owned by insiders.

LendingClub Trading Up 0.7 %

LC traded up $0.11 during midday trading on Friday, hitting $17.05. 1,275,738 shares of the company traded hands, compared to its average volume of 1,454,049. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 37.07 and a beta of 2.03. The business has a 50 day simple moving average of $16.31 and a two-hundred day simple moving average of $13.36. LendingClub Co. has a 52-week low of $7.48 and a 52-week high of $18.75.

LendingClub (NYSE:LC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $190.40 million. LendingClub had a return on equity of 4.02% and a net margin of 6.85%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Equities research analysts anticipate that LendingClub Co. will post 0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LC shares. Maxim Group lifted their price objective on shares of LendingClub from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Wedbush upped their price target on LendingClub from $14.00 to $17.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $17.00 price objective (up previously from $14.00) on shares of LendingClub in a research report on Monday, December 2nd. Keefe, Bruyette & Woods upped their target price on LendingClub from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on LendingClub from $15.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, LendingClub presently has an average rating of "Moderate Buy" and an average target price of $16.63.

LendingClub Profile

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.